JSE-listed JemTech Holdings has announced that a change of control to its shareholding has taken place. No details have been disclosed.
The company, which sustained an attributable loss of R3.5 million in its maiden year to December 1999, restructured recently to form a smaller entity to concentrate on its core areas - mapping solutions and software-related business.
It said at the release of its last financial results it was in talks with a telecommunications infrastructure supplier to Telkom, with a view to acquiring the business to integrate the existing mapping applications and consolidate its position in the field of digital mapping solutions and telecommunications technologies.
The company said this morning it is in talks which, if successful, may have an affect on the price of its shares.
"An offer or standby offer, as the case may be, in compliance with the requirements of the Securities Regulation Panel, will be made to minority shareholders in due course" after the talks have been completed or terminated, it says.
The company has advised its shareholders to be cautious in dealing in JemTech shares until a further announcement is made.
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